Global Turbulence and Financial Resilience: Implications for Financial Services and Society

With the recent bank failures in the United States and the subsequent takeover of Credit Suisse by UBS, what will be the long-term consequences for the stability of the banking sector, the availability of credit, and the resilience of the global economy? As central banks and policy makers try to balance stability while fighting inflation, are we witnessing the start of new period of stagnation and even recession?

In the midst of a new era of financial turmoil, how will financial services leaders and regulators keep up with the pace of change and what can be learned from previous crises to help avoid further turmoil? How can industry leaders adopt a new playbook to steer transformation for an equitable and sustainable future while combating uncertainty, destabilization, and fragmentation?

The 2023 Finance Forum focused on the current stresses and pressures on the global financial system, and their impact beyond markets and interaction with other parts of the economy and society. In this climate, regulators and financial services leaders are facing acute challenges to keep up with emerging uncertainties and new vulnerabilities. The Forum explored the functioning of the financial system against the backdrop of geopolitical and macroeconomic turbulence, and examined new risks to the system, analyzed implications for financial services and explored the impacts on society and the real economy.